Gordon Brown: In May last year I set out to the House how Europe must adapt to the changing balance of global economic activity and the rise of fast-growing emerging economies. Following the end of the UK presidency, I am pleased to be able to report significant progress on this agenda at ECOFIN that will help equip Europe to meet the global economic challenge.
	Better Regulation and Enterprise
	Regulatory reform was at the heart of our presidency programme. We made good progress over the six months of our presidency, including:
	agreement to simplify over 1,400 rules and regulations;
	withdrawal of 68 proposed EU regulations;
	a commitment to test the competitiveness impact of all new EU regulations in impact assessments;
	a commitment for administrative burdens to be measured in all EU proposals and a call to set targets to reduce burdens on business; and
	agreement on the next steps for the better regulation agenda with the Austrian and Finnish presidencies, including a focus on risk-based regulation and business consultation.
	The UK presidency also launched the first European Centres of Enterprise Competition which rolls out the successful British annual competition for local and regional authorities to reward initiatives to support entrepreneurship across the whole EU.
	Jobs and Growth
	At the Manchester ECOFIN Informal meeting in September, Finance Ministers and Business Leaders reached consensus on the reforms needed to deliver stronger economic growth and social justice in Europe in the face of rapid global economic change.
	Subsequently, in October I published a report on "Global Europe: Full Employment Europe" setting out proposals for major reforms to enable Europe to grow faster and tackle unemployment, and member states also published the first Lisbon National Reform Programmes as part of the re-launched Lisbon Strategy. In the context of responding to globalisation, Finance Ministers reviewed the programmes in December as the priority for reform, adopting Council Conclusions confirming that:
	globalisation represents opportunities for Europe provided we put in place the policies needed to realise these;
	labour market reform is key, but policies need to reflect the different social models in member states; and
	alongside structural reform, we need an ambitious and balanced multilateral trade agreement.
	Financing for Development
	As part of the EU's commitment to a more outward-looking Europe, Finance Ministers made significant progress in finance for developing countries, including:
	Agreeing to double annual aid from 2004 to 2010, and Member States that joined the EU before 2002 agreed to reach 0.7 per cent. ODA/GNI by 2015.
	Launching the pilot International Finance Facility for Immunisation on 9 September with the participation of the UK, France, Italy, Spain and Sweden.
	Agreeing that those Member States who were willing would go ahead with launching the International Finance Facility and an air passenger levy for Development.
	Agreeing an ambitious EU statement on development for the UN Millennium Summit review in September
	Pro-active competition policy
	The European Commission reported to ECOFIN in October on the launch of sectoral enquiries into market failures in energy and financial services.
	The Commission published its report on implementation of the gas and electricity directives in November, and published its interim findings on the energy sector competition inquiry on 16 February. The Energy Council agreed in December on the need to complete the implementation of existing legislation and improve energy market competition, and noted the Commission's determination to take forward work on energy liberalisation.
	The UK presidency hosted a successful conference on state aids, and the Commission's June Communication setting out its State Aid Action Plan is in line with UK reform priorities.
	International cooperation
	As part of our outward-looking agenda, following the ambitious economic declaration at the EU-US Summit, we agreed three presidency Conclusions in October and the inaugural EU-US Economic Ministerial in November agreed a comprehensive action plan, including:
	first regulatory cooperation forum meetings in spring 2006
	a new strategy on intellectual property rights enforcement
	and cooperation on innovation.
	A joint EU-US statement set out future priorities for Financial Markets Regulatory Dialogue to accelerate progress towards a barrier-free transatlantic financial marketplace. The European Commission has identified an EU-India financial services dialogue as a priority for 2005–10.
	The UK presidency also worked through the European Union to build support for economic regeneration as a contribution to the Middle East Peace Process.
	Financial Services
	The UK presidency set the shape of financial services policy in the European Union for the medium term, including:
	endorsement of the European Commission's EU financial services policy 2005–10 founded on better regulation principles;
	reaching a first reading deal on the Capital Requirements Directive—which introduces modern risk based capital rules for EU banks and investment firms;
	the Lamfalussy Committee Chairmen reporting to ECOFIN in October on how they plan to cooperate more effectively to reduce burdens on business. They signed a memorandum of understanding on closer cooperation. The Finnish presidency have indicated they will take this forward; and
	completing work on the Third Money Laundering Directive and reaching a Council Common position on the Funds Transfers Regulation—both adopting a risk based approach to combating terrorist financing and financial crime.

Mike O'Brien: Since making my oral answer to the question from the hon. Member for Banbury (Tony Baldry), Official Report, 9 February 2006, column 1002, further information has come to light. Following an investigation by a senior Crown Prosecution Service (CPS) manager it is now clear that there are eight cases where CPS lawyers at Banbury and Oxford sort to vacate trial dates. Three of these cases are being pursued to trial but five cases were accepted as guilty pleas and I have written to the hon. Member for Banbury setting out details of these cases.

Alun Michael: The Phoenix Development Fund is a time-limited initiative designed to explore good practice in delivering business support and to find innovative ways to reach out to communities considered hard to reach by mainstream providers. It was not designed to provide long term or core funding for business support organisations. The Small Business Service (SBS, an agency of the DTI) will not be contracting for any new activities under this programme when existing contracts end in March 2006. We are currently discussing with RDAs the arrangements for local management of the fund.
	Since 2000, the Phoenix programme has done some excellent work to help budding entrepreneurs who face particular barriers when starting or growing a business. The main beneficiaries of the programme come from communities which are under-represented in business and/or live in deprived neighbourhoods. The programme is made up of two elements: the Phoenix Challenge Fund, which supports Community Development Finance Institutions; and the Phoenix Development Fund, which supports projects aimed at finding innovative ways to provide business support to the above communities.
	It has been decided that the Challenge Fund will continue as a national budget of the Small Business Service for a further two years but in the main will be managed by the RDAs who have also received a contribution to the "single pot" for 2006–07 and 2007–08 for this purpose.
	The Phoenix Development Fund has been successful and we now need to ensure that the innovative approaches that have been developed are built upon by mainstream providers of business support. The knowledge and good practice accumulated over the years in dozens of projects funded by the PDF is being collated and catalogued and we will be working with stakeholders and partners over the next year to ensure this legacy is embedded in mainstream provision of business support.
	Delivery of initiatives to encourage more enterprise in under-represented groups and deprived communities is increasingly managed at the Regional Development Agencies and Local Authorities in line with their wider responsibilities for delivery of business support and economic regeneration. RDAs have already been awarded an increase to their finds from April 2006 in recognition of their increased responsibility that, although it will not replace the national funding, will augment their existing provision. In addition, the Government have introduced the Local Enterprise Grant Initiative that will provide £300 million over three years to local councils in the most deprived areas to encourage the development of more enterprising communities and this programme will benefit from the lessons learned through the Phoenix Development Fund as well as being joined up with the continuing work of the Phoenix Challenge Fund and the Community Development Finance Institutions that it supports.